AK SJR5

Modifies Alaska Permanent Fund dividend distribution to transfer a portion of permanent fund income annually for resident dividend payments as established by law as of January 1, 2019, with dividends distributed in four equal quarterly payments.

Requires voter approval through statewide ballot for any future legislative changes to the dividend payment amount, with ballot measure prepared by the lieutenant governor and effective 90 days after election certification or per legislative concurrence of two-thirds of each house.

Establishes appropriation limit restricting fiscal year appropriations to not exceed the average of previous three fiscal years' appropriations plus average inflation change over five years, with exceptions for permanent fund payments, disasters, and certain other categories.

Allows legislature to appropriate additional funds for capital improvements up to 10% beyond the appropriation limit, excluding such amounts from future limit calculations.

Directs end-of-fiscal-year general fund surpluses to be deposited first to permanent fund (up to 50% of permanent fund income), then to budget reserve fund (to reach next year's appropriation limit), then remaining balance to permanent fund.